701 Cockeys Mill Rd Reisterstown, MD 21136
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About this home
*Check out the video tour!* This open-concept split-level home sits on a beautiful 1.6-acre lot in the Franklin Valley neighborhood. Mature trees provide shade, while newly planted trees along the side yard will grow into a natural privacy screen. Inside, the living area feels open and inviting with vaulted ceilings, skylights, and elegant tile work welcoming you at the entry. The layout flows seamlessly into the dining room, which opens to a large deck perfect for dining al fresco. The kitchen features white cabinetry, a center island (conveys), stainless steel appliances, and a double oven. Upstairs, you’ll find three bedrooms with airy vaulted ceilings, a full hall bath, and a half bath attached to the primary bedroom. The lower level offers new flooring, abundant natural light, a cozy fireplace, an additional bedroom and full bath, laundry, garage entry, and walkout access to the rear yard. Enjoy summer days in the above-ground pool with a liner replaced just last year. Relax or entertain on the deck and keep your tools and seasonal items organized in the shed. The expansive yard provides plenty of space for activities, little ones, pets and more. A long paved driveway and two-car garage provide ample parking. Located just minutes from shopping, dining, and local conveniences along Reisterstown Road/Main Street. Commuting is easier with quick access to I-795 as well as Routes 30 and and 140. The Reisterstown Sportsplex is just minutes away, with Costco a little over 7 miles, and Trader Joe’s and Target both within 15 miles. Nature lovers will appreciate being just a stone’s throw from the scenic Liberty Reservoir and the surrounding Liberty Watershed area, perfect for hiking, fishing, and outdoor escapes. Buyer to verify school districts.
Source: BRIGHT #MDBC2135448
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FAQs
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Roam is committed to and abides by the Fair Housing Act and Equal Opportunity Act.